Personal Finances | Planning

Plan Your Financial Future Now

The best way to prepare for your financial future is to have a budget that you can follow and adjust as you work through each month. There are many doable ways to put together a budget, but all entail gathering the best information you can from your past financial records.

Using Past Expense to Predict Future Expenses

Both checking accounts and credit card records provide a good place to start. For most families, housing expense is the largest and most important expenditure. These expenses include mortgage or rent, utilities, taxes, insurance, and maintenance.

Nov 24, 2020
Fannie Mae and Freddie Mac will accept loans up to $548,250 next year
An increase of almost $30,000
Fannie Mae and Freddie Mac will accept loans up to $548,250 next year – an increase from $510,400 in 2020. According to the seasonally adjusted FHFA Home Price Index, third-quarter housing prices rose 7.42% year-to-year, so loan limits will do the same. More info...

Nov 8, 2020
Funding Sources for Your New Company
Find sources of funding for your startup
The number one issue with any new business is obtaining the funding needed for startup and operating expenses. Here an entrepreneur can find loan sources, crowdfunding, angel investors, and investment bankers.

New rules for investing in crowdfunding now allow smaller investors to participate and will increase the amount of money available for startups. More info...

Nov 7, 2020
Casinos in Orlando
Oralando, Florida
Casinos in Orlando. The closest real casino refers to the Seminole Hardrock Hotel Casino in Tampa, Florida, about an hour and ten minutes away. This Las Vegas-style casino features hundreds of slots and card rooms including high stakes poker and blackjack.
So drop over for a few nights and enjoy the action. It is an easy drive down I-4 west to Tampa. Bus shuttles are also available if you prefer. ESCOT Bus Service. Reserve your spot online https://escotbuslines.com/charter-bus-rental-hard-rock-casino-shuttle-service/ or call 844-537-ROCK (7625). More info...

Oct 27, 2020
What is a buy down in mortgage terms?
A buy down can be an investment to save money
This refers to the practice of paying larger loan fees upfront to provide a lower interest rate during the term of a loan. Buydowns only make sense when the borrower is going to have the loan for a long time and can recoup the cost of the buy-down. Even then, if rates drop and the borrower refinances, the buy-down fee is lost. More info...

Oct 17, 2020
Loan Estimate and Closing Costs
Mortgage Loan Disclosures at time of application
The Loan Estimate disclosure has been revised to a standardized document that must be used by all lenders.
This new Loan Estimate gives you an estimate of your settlement charges and loan terms if you are approved for a mortgage loan.
Take your time understanding the numbers as you can save thousands of dollars in payments by choosing the best loan for you.
More info...

Oct 17, 2020
Planning a Trip to Florida for the Holidays?
Hotel Bookings are going fast in the Sunshine State
Now is the time to make those reservations for Thanksgiving Vacation, Christmas, and New Year's weekend. You owe to yourself to head down to the land of sun and surf to enjoy a family outing. More info...

Oct 16, 2020
What is a bridge loan?
Mortgage Glossary
Bridge Loan
A form of a second mortgage that is collateralized by the borrowers present home (which is usually for sale) that allows the proceeds to be used for closing on a new house before the present home is sold.

More info...

Oct 15, 2020
When can I shred these paper checks and bank statements?
Answers to your mobile banking questions
Major banks recommend that after you’ve made a mobile deposit, you write “mobile deposit” and the date of deposit on the front of the check. Keep the check until you’ve made sure the deposit has gone through — which may take several days — and that the bank doesn’t need the original check for any reason. Once the check has been cleared in your account, it’s best to shred it. More info...

Money Smart News Continued...